What are the features and use case of Coil Token?

What are the features and use case of Coil Token?

By Bloggers | Coil AMAs Summary | 11 Oct 2020


In the last article we explained what CoilCrypto is. This one is going to give you some more information about use cases and different features of the project.

What are the features and use case of Coil Token?

Features:

  • 23hr rebase: Every 23 hrs Coil adjusts and adds or removes its supply depending on the supply and demand of the market. They  chose 23 hrs to allow the rebase to change 1 hour earlier each day, so all parts of the world can experience rebase during their peak hours at some point. The team has thought this is more fair to all parts of the world.
  • Coil is much less correlated to BTC and other cryptocurrencies. Because of this it has an ideal use case as a hedge asset to minimize risk in all portfolios, it can help hedge this risk and protect from some of cryptos volatility. This also makes it a fantastic DeFi collateral asset.
  • Coil is designed to be a future backbone in all of DeFi. In DeFi you need to minimize risk because if BTC and other cryptos fall, then all of DeFi can be in trouble as all crypto is very correlated. This can lead to huge liquidation risk. Coil since it is less correlated helps to fix this.
  • The Coil Spring ( SpringApp )is another important feature. The Spring can be though of like a faucet that incentivizes users to provide liquidity by paying them rewards from the ecosystem fund. This rewards them and makes Coil have larger market liquidity. It is designed to work like a CD in a bank. Rewards good behaviour, penalizes bad, while also making liquidity more predictable and harder to manipulates.
  • Coil will also be one of the first into the Private DeFi world, where Coil can start to become this hedge asset and Defi collateral backbone.

 

 

Watch this short video tutorial on how easy it is to join the Coil Spring.

 

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Coil AMAs Summary
Coil AMAs Summary

I collected a summary of important information (from the latest AMAs). This article will help you learn more information about Coil and how it differs from other projects. This will help you understand how Coil works as well as some of the key features. Coil already had 4 AMAs (with Blockchain Infinity, NanoNews, D’va and IDCrypto ). Many good questions were asked and answered. If you missed the AMAs live, you can read the recap from every AMA on https://medium.com/@coilcrypto to gain some deeper insights

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